Building information modeling (BIM) is a rapidly developing technology used in the construction industry. Many construction companies have implemented BIM into their construction processes for executing various construction management tasks, including four-dimensional (4D) progress simulation and cost control. However, 4D progress simulation has not been simultaneously integrated and compared with cost control thus far. With the execution of this simultaneous task, the relationship among project progress, construction cost, and project components can be explored. Moreover, currently, when conducting a cost review, discretionary adjustments cannot be performed based on an actual site implementation. To this end, in this study, first, the quantities of each of the cost items are calculated using BIM and are matched with the corresponding construction progress. The quantities of each of the cost items can, therefore, be included in each construction progress report. Next, BIM is integrated with the construction cost and the project schedule to generate an S curve concurrently with the 4D simulation. By using the S curve, cost control can be performed according to construction progress. In addition, the proposed model can be presented clearly by using virtual reality (VR). Finally, this study explore the feasibility of the proposed model by applying it to a bridge construction project. The results indicate that the cost of each stage can be clearly determined using the proposed model. When a cost item is unclear, it can be compared with the simulated construction progress. Coordination and management can be performed, and any gaps therein can be filled early to increase the efficiency of the management process.